27-09-00 OPEC President Ali Rodriguez has put the cat among the European pigeons, claiming 'at least one' European country is releasing its strategic reserves. "I prefer not to name names," Rodriguez said, warning that this was "the kind of thing that provokes speculation and could disturb the oil market."
His claims come ahead of EU ministers meeting to discuss whether to release reserves after the US opened 30 mm barrels from the SPR, and has added fuel to the flames of the European debate. Already Spain and France have supported release of reserves while the International Energy Agency in London has warned the union to 'resist the temptation' to open the taps. Rodriguez said that by dipping into its reserves, Europe could 'oblige' OPEC to take a decision to counter the move.